Staking as NFT
Staking as NFT introduces Non-Fungible Tokens (NFTs) to represent your staking deposits. In this mechanism, when you stake your tokens, you receive an NFT that signifies ownership and details of the staked amount and lock options.
Why Choose Staking as NFT?
Staking as NFT offers several benefits over native staking:
It enables participation in Liquid Staking or other DeFi applications and unlocks the potential to earn additional passive income.
With your staking ownership being managed as an NFT token you have the option to liquidate your stake in an NFT marketplace for instance if you initially set a lock period but you need your deposit back ahead of it to conclude.
Convert Native Staking to NFT
Migrating Native Staking to NFT-based Staking
Starting with IoTeX 2.0.0 release users with native staking buckets can now seamlessly migrate to NFT-based staking, enjoying the benefits and flexibility provided by NFT-based staking.
IoTeX 2.0.0 activation is expected on July 22, 2024 00:00:00 UTC, and the conversion will be available on the official staking portal.
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